House price rises levelling off (From Oxford Mail)

House price rises levelling off

7:00pm Tuesday 31st August 2010 in

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House price inflation in Oxfordshire is running out of steam, according to the Land Registry.

Prices rose by 0.4 per cent in July, with the annual rate of increase falling back from 10.4 per cent to 9.4 per cent.

The small rise chimes with national figures, suggesting that prices have reached a plateau.

The average house price in Oxfordshire in July was £238,192, compared with £237,334 in June, when the figure fell 0.1 per cent on the May average — the first drop since April 2009.

The figure for England and Wales went up to £166,798, just £1,864 higher than in January.

The annual rate of house price inflation has now fallen three months in a row.